Ascendex.com Review – Delisted Tokens, Frozen Funds, and Rising Worries

Introduction

Ascendex (formerly BitMax) is a crypto trading platform that once attracted traders with low fees, staking opportunities, and an ambitious token ecosystem. However, recent developments—including hidden delistings, fund freezes, and inadequate customer support—have prompted growing suspicion. Is Ascendex still a trustworthy exchange, or has it quietly crossed the line into risky territory?

This post explores key warnings, real user complaints, and what to do if you’re impacted. If you’ve had money locked or lost funds, a resource like Forteclaim can assist.

1. Phantom Delistings and “Stealth Theft”

In September 2022, multiple users reported that Ascendex removed tokens without notice and blocked withdrawals:

“I logged in … to find my MITX had disappeared … no warning … blocked withdrawals … in effect AscendEX is doing theft by stealth”

Affected tokens were sometimes silently credited in fiat, but many users never recovered anything. This hidden delisting approach is deceptive and erodes trust.

2. Security Breach with Major Consequences

In December 2021, Ascendex experienced a serious security incident affecting hot wallets on several major chains. The exchange later confirmed:

Over $70 million in assets were compromised (ascendex.com, cybercriminal.com)
100% of lost assets were eventually reimbursed (ascendex.com)

While reimbursement is essential, the breach highlights vulnerabilities in their security infrastructure. For users, younger platform histories with major failures can be a red flag.

3. Regulatory Warnings and Trust Issues

Ascendex is not regulated by top-tier agencies like the SEC, FCA, or ASIC. Reports warn that the French regulator (AMF) blacklisted the platform (cybercriminal.com).

The lack of oversight means users may hold fewer rights if issues arise. Trust levels on Scam Detector reflect mixed signals—an average score of 61/100, describing it as “medium trust” (scam-detector.com).

4. Persistent Withdrawal and Support Complaints

Recent Trustpilot reviews and forum posts show continued problems:

“My $38,000 has been locked in my account … 90 days” (uk.trustpilot.com)
Many users report unexplained freezes, disappearing funds, and unresponsive support (uk.trustpilot.com)

Another Redditor expressed suspicion that Ascendex uses “inactivity fees” to strip user assets:

“They have stolen my assets … they erased all my transaction history” (reddit.com, reddit.com)

These stories paint a concerning picture of funds being locked—sometimes indefinitely—without user control.

5. Unclear Fee Structures and Lack of Transparency

Advanced trading features—including margin, staking, and derivatives—carry complex fee structures. Reports indicate confusion even among experienced users. Combined with undisclosed policy changes, this opacity increases risk.

What Should You Do If You’ve Been Affected?

If you’ve lost access to funds, faced unexpected freezes, or feel trapped on Ascendex:

Document everything—take screenshots of your account, stuck funds, notifications, or delistings
Reach out again—escalate via email, social media, or public forums, demanding transparency
Check your local regulator—file a report if Ascendex is blacklisted or not licensed
Consult Forteclaim, a trusted ally for crypto victims. Forteclaim helps you gather evidence, file complaints, and learn your options—without charging upfront

Final Verdict

Ascendex has roots and features that appear strong, but accumulated issues make it a questionable choice:

Stealthy delistings and asset removal
Security failures with massive breaches
Locked funds and unsatisfactory support
Regulatory concerns and blacklists

If you use Ascendex, proceed with caution. Keep withdrawal amounts modest, track your assets, and be ready to act quickly if issues arise.

If you’ve already been hurt—don’t suffer in silence. Document your case and seek help from Forteclaim. Even in the murky world of crypto exchanges, swift action and shared vigilance can protect you and others.